What services does ABM Global Compliance offer to ancillary credit firms?

ABM Global Compliance provides a range of services including FCA authorisation, AML/CTF policy development, risk management frameworks, governance and internal controls, regulatory reporting, and ongoing compliance support.

How can ABM Global Compliance assist with FCA authorisation?

We assist ancillary credit firms in obtaining FCA authorisation by preparing the necessary application documentation, establishing governance structures, and ensuring compliance with regulatory requirements.

What is included in AML/CTF & KYC/KYB policy development?

Our services include the development and implementation of anti-money laundering, counter-terrorist financing, and know-your-customer/business policies tailored to the specific needs of ancillary credit firms.

Why is a risk management framework important for ancillary credit firms?

A robust risk management framework helps ancillary credit firms identify, assess, and mitigate potential risks, ensuring compliance with regulatory requirements and protecting the firm's reputation.

What does ongoing compliance support entail?

Ongoing compliance support includes continuous monitoring of compliance status, staff training, and updates on regulatory changes to ensure ancillary credit firms remain compliant with evolving regulations.

Ancillary Credit Services | FCA Compliance Support

Overview

Ancillary credit services encompass offerings such as debt counselling, credit repair, and administrative support related to credit activities. Although these services are secondary to core credit provision, they carry significant regulatory obligations and potential reputational risks. Firms must ensure transparency, fair treatment, and adherence to conduct standards while protecting vulnerable customers. ABM provides tailored compliance solutions that help ancillary credit service providers operate ethically, meet FCA requirements, and mitigate operational and reputational risks.

Key Compliance Challenges

Appropriate FCA Permissions

Ancillary service providers must obtain the correct permissions from the Financial Conduct Authority (FCA) to lawfully operate. Maintaining authorization requires demonstrating robust governance, ethical service delivery, and adherence to regulatory standards.

Conduct and Ethical Service Delivery

Providers must ensure that all services are delivered with integrity, fairness, and professionalism, aligning with FCA principles and Treating Customers Fairly (TCF) obligations.

Transparency in Fees and Services

Firms must clearly disclose fees, service terms, and any limitations to clients, avoiding misleading or ambiguous information.

Vulnerable Customer Handling

Special attention is required for clients in vulnerable situations. Firms must implement processes to identify vulnerability and provide appropriate support and safeguards.

AML/KYC and Data Privacy

Ancillary providers must comply with anti-money laundering (AML) and Know Your Customer (KYC) requirements while protecting client data in accordance with data protection regulations.

How ABM Can Help

Licensing Application

ABM supports firms in obtaining FCA authorisation for ancillary services, reviewing business models, and preparing documentation for a robust compliance setup.

Ongoing Compliance Support

We assist with implementing AML frameworks, TCF-aligned complaint handling, service reviews for ethical alignment, and staff conduct monitoring to ensure consistent adherence to regulatory and internal standards.

Regulatory Reporting

ABM helps firms manage complaint reporting, dispute records, and AML or conduct breach notifications to regulators.

Specialized Training

Our training programs cover FCA conduct rules for ancillary providers, AML and KYC processes in support services, ethical standards, and client protection measures to build a strong compliance culture.

Audit & Assurance

ABM conducts file testing for service transparency, client risk assessment evaluations, vulnerability handling process reviews, and FCA audit and conduct risk remediation to ensure firms remain compliant and operationally sound.